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The hitherto little-known company has teamed up with Blackstone-backed Quality Care to create India’s third-largest hospital chain after Apollo and Manipal. But success will depend on how the new entity overcomes a set of unique challenges.

A public listing will help clean up the hospital chain’s balance sheet after the costly Sahyadri acquisition. But depressed metrics, integration risks and lofty valuations make this far from a clean turnaround story.
The framework reads less like an agreement between partners and more like a probation order written by the stronger side.
It’s never a good sign when your foreign minister needs a lobbyist to meet US officials. The recent events signal a breakdown in the Modi government’s ability to operate in today’s Washington through its own machinery.